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Himax Technologies, Inc. (HIMX) Message Board

  • markofbklyn markofbklyn Jun 4, 2013 11:23 PM Flag

    Buyback & F3 Filing

    If the company has 12.5 million left in the buy back & now they registered to sell stock, is that a conflict of interest. I think the company will use sine if the proceeds from the sale of stock to pay a dividend of .25 a share & the balance for an acquisition. I think HIMX will raise earnings & revenue guidance before the end of June. Only time will tell.

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    • I have mixed feelings about almost everything with HIMX recently. Not really negative as I am holding for double digits but they need to communicate better as uncertainty is usually not positive:

      - I can understand stopping the buyback $11+ million short of the $25 million approved as the share price has greatly appreciated.............but why the shelf filing? At least explain this whole thing as I would like to know what the shelf offering just might be for (listing in Taiwan? Great busienss opportunity to expand?)

      - Generally would have like the remaining $11+ million remaining from the buyback to be added to the dividend.............but not if they need the money for investments. This $11 million can represents over 1.5 million shares.............or $0.066/share dividend

      - Due to the amount of the dividend and their general philosophy of returning up to 50% of earnings to the shareholder, I do wonder if they will eventually go to quarterly rather than annual dividend. Dividends help keep shorts at bay and can magnify share price movements so perhaps they should.............but I would like a $0.175 dividend this summer.

      - But, if money is needed for expansion, I would prefer they keep the dividend (perhaps $25 million or more) and the $11+ million remaining from the buyback. That is over $36 million for expansion. Then, use some cash on hand and BORROW the rest due to lower interest rate and don't dilute your shareholders!!!

      - Communicate and Explain in decent detail when the dividend is announced this week or next. Communications is key at this point!!!!!!!! Why go to investor conferences and leave your shareholders in the dark????????

      • 1 Reply to haschultz1
      • Is it possible that Himax will use proceeds of offering to immediately buy the Chimei Innolux position. (an arrangement of sort with Chimei) That would buy back a large piece of outstanding shares, (hence the cancellation of the buyback). Himax's cash position would not change, and immediately be accretive. The slightly larger amount of shares Himax is offering could be for offset of offering expenses. Just thinking

 
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